Solazyme Maintains in Fiscal 2011

Solazyme, Inc. posted financial results for the fourth quarter and fiscal year ended Dec. 31, 2011 and recent key corporate highlights.

“In 2011, Solazyme made significant progress toward commercializing our valuable technology platform, including launching our Algenist skin care line and our Solazyme Roquette Nutritionals business,” said Jonathan Wolfson, CEO, Solazyme. “Recently, we commenced operations at our manufacturing plant in Peoria, Illinois and Solazyme Roquette Nutritionals commenced operations at its Phase 1 facility in France. Over the past year, we delivered on all of our partner commitments, signed MOUs and JDAs to meet the majority of our long-term feedstock needs, and progressed on important partnerships. We believe we’ve set the stage for commercial expansion in 2012 and 2013.”

“Our unique technology platform is capable of rapidly prototyping new triglyceride oils that we expect will allow our customers to develop new and improved products and change the industrial playing field,” added Wolfson.

Total revenue for the fiscal year stayed almost flat at $39.0 million, compared with $38.0 million in the prior year. Total revenue for the fourth quarter fell 6% to $14.9 million. The fourth quarter of 2010 included a $15 million license payment from Roquette, compared with a $5 million license payment received in the comparable quarter in 2011.

“Our primary focus throughout 2012 will be on ramping our commercial capacity,” said Tyler Painter, CFO, Solazyme. “With approximately $244 million in cash, cash equivalents and marketable securities at year end, we believe we are well positioned to execute our plans and remain on track to achieve our commercialization targets.”